Colfax to sell Air and Gas Handling business for enterprise value of $1.8 billion

Acquisition The Air and Gas Handling business had approximately $90 million of profit

Colfax Corporation announced that it has signed a definitive agreement to sell its Air and Gas Handling business to KPS Capital Partners for enterprise value of $1.80 billion.

That including $1.66 billion in cash consideration and $0.14 billion in assumed liabilities and minority interest, subject to customary closing adjustments.

The Air and Gas Handling business had approximately $90 million of segment operating profit and $200 million of adjusted EBITDA in the twelve months ended March 29, 2019.

Completion of the transaction is expected in the second half of 2019 and is subject to customary closing conditions and approvals. Colfax expects to report the Air & Gas Handling business as a discontinued operation in its future results. ■